Fermi reports $189M Q1 loss, secures $785M equipment financing and 2+ GW power capacity

Filed May 14, 2026 · Period ending May 14, 2026 · ~2 min read

Key Changes

• high

  Secured $785M in new equipment financing (including $500M from MUFG) and $156M Yorkville commitment; repaid Macquarie Term Loan in full, ending quarter with $243M cash and $421M debt.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
• high

  Secured 2+ GW power generation across owned/contracted assets; obtained ~6 GW Clean Air Permit (second-largest in U.S.) and filed for additional ~5 GW permit toward 17 GW target.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
• high

  Q1 net loss of $189M ($0.30/share) driven by $134M non-cash share-based comp and $25M Macquarie loan extinguishment loss; invested $441M in PP&E, bringing gross balance to ~$1.4B.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →